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Saudi Arabia-based Magrabi Medical Group Holdings Co., a leading optical retailers and operator of eye clinics in the Middle East, is mulling an IPO of its hospitals business in the kingdom as soon as next year, Bloomberg reported citing people familiar with the matter.
The family-owned company has asked banks to pitch for a role on the IPO on the Saudi stock exchange, according to the report.
Rothschild & Co. is advising Magrabi and a listing could raise about $200 million, the people said.
Saudi Arabia has seen a spate of IPOs in the past two years. Its economy, the biggest in the Middle East, has been boosted by the surge in oil prices to over $85 a barrel while the easing of coronavirus lockdowns has boosted non-oil sector activity.
(Writing by Brinda Darasha; editing by Seban Scaria)
